Australian Economy

It’s a bit late to worry about debt servitude, Joe

David Llewellyn-Smith
Tuesday, 24 February 2015
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From The Australian:

Treasurer Joe Hockey has warned Australia must not fall into a position like Greece where it would be subservient to global bankers.

He was responding to Palmer United Party leader Clive Palmer in parliamentary question time who asked him why the government was destroying living standards with austerity when Australia’s debt was less than the OECD average.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.